The U.S. still has a long way to go before it catches up with more mature offshore wind markets such as the one found in Europe.
In March 2021, the Departments of Energy, Interior and Commerce said they wanted to roll out 30 gigawatts of offshore wind by the year 2030, a move it's hoped will generate thousands of jobs and unlock billions of dollars in investment.
Despite these plans, the U.S. still has a long way to go before it catches up with more mature offshore wind markets such as the one found in Europe. Last year, the sector there attracted 26.3 billion euros of financing for new offshore wind projects, according to figures from WindEurope. In 2020, 2.9 GW of offshore wind capacity was installed in Europe, the industry body says.
While the U.S. is looking to ramp up its offshore wind capacity, the challenge of moving away from fossil fuels is a huge one. Just this week, the U.S.in January directing the Secretary of the Interior to halt new oil and natural gas leases on public lands and waters and to begin a thorough review of existing permits for fossil fuel development.
But in June, a federal judge in Louisiana issued a preliminary injunction to block the administration's suspension and ordered that plans continue for lease sales that were delayed for the Gulf and Alaska waters.—CNBC's Emma Newburger contributed to this report
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